SHILL just passed the rigid screening to attain legal cryptocurrency status in Indonesia. The new regulation that recognizes SHILL as a legal token in Indonesia was launched on August 10th, 2022, in Perba (Regulation of Trades in Commodities Future Supervision) number 11 the year 2022.
This positive news has been covered by many major online publications in Indonesia as well, like bisnis.com and cnbcindonesia.com. In kompas.tv and detik.com, even, the SHILL token is mentioned as the 10 representative tokens out of 383.
In an effort to counter the rampant online scams, Indonesia’s Ministry of Trades screened the available cryptocurrencies with 10 major determiners to ensure the cryptocurrency’s security, such as:
1. Public ownership of the currency is more than 30%.
2. Clear track record from the developers, free from criminality.
3. The blockchain system has a growing and sustained community.
4. Specific and detailed information of the roadmap journey.
and many other determiners.
Only cryptocurrency passing the points mentioned above is deemed safe to be legally traded in the country. The supervision body (Bappebti) from Indonesia’s Ministry of Trades then legalized 383 cryptocurrency, and SHILL is one of them.
The legalized SHILL now benefits with the assurance of law protection for Indonesian that deals with them. The new regulation also enables SHILL to be considered legal to be used as investment assets by the country.
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